Australia’s competition regulator will give its verdict on the Transurban-led consortium’s bid for WestConnex a week earlier than it previously flagged.
In a notice released late on Tuesday (21 August), the Australian Competition and Consumer Commission (ACCC) said it had changed the deadline for a decision from 6 September to 30 August to “take into account the NSW Government’s timetable for the sale of WestConnex”.
Final bids from Transurban’s Sydney Transport Partners consortium and an IFM-led consortium were lodged a month ago on 23 July. Normally a decision would be made on such deals within a week as financing backing each deal cannot be guaranteed much longer than a month.
NSW Minister for Transport, Andrew Constance, earlier this month criticised the ACCC for disrupting the state’s bid process by delaying its final decision by two months from 19 July to 6 September.
The ACCC said at the time it would try to speed up its decision.
In the meantime it has been consulting on a proposal by Transurban to release traffic data on all its NSW toll roads.